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Random Thoughts

By

Gibson's?

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  • The first thing Minyan Charles Martell said to me when I walked into Gibson's? "Jeez Toddo, you sure took some generous liberties with your picture on the site!"

  • Despite Freaky Friday's reversal and Monday morning's meander, there is a noticeable absence of concern among the bulls.

  • S&P 980, which was initial support, serves as uber-short term resistance for the active Minyans among you.

  • How did rubbernecking become an everyday traffic term? Think about it -- rubbernecking! Sounds kinky!

  • Breadth, which has probably been the single best tell the last few months, continues at a 2:1 negative pace despite the intraday rally attempts.

  • Did Friday's downside reversal pass the baton from the bullish "panic" phase to the bearish "denial" phase?

  • While I will most likely be out next Monday, I am pushing out my (much needed) vacation to the first week in July. Why? I want to tie up a lotta loose ends so when I turn it off I can really tune it out.

  • Professor Succo is getting into the swing of things. You will not find a more astute options maven in all the land!

  • Is "Ponzi scheme" too strong a phrase when discussing the house of cards, er, derivative structure that supports our financial system?

  • Who are the top five baseball players of all time? Send your votes (in order) to Fokker@minyanville.com.

  • A big Minyanville welcome to our newest mini-Minyan: Axel James Carlson. Mother, father, brother and baby are all doing well! Wasabi!

  • Last night, while honoring Jack Skiba at his Long Island temple, I spoke with a handful of traders who toil on the sell-side (work at brokerage houses). They tell me what many of us already know: Despite the recent rally, the climate is brutal. Risk restraints are being employed by management, layoffs are coming through in waves and the year-end expectations are already being managed. While it surely stinks, it's all part of the weeding out process necessary to alleviate the industry overcapacity.

  • What ever happened to Quentin Tarantino?

  • Don't force trades -- be in a position to capitalize when an advantageous risk/reward sets up.

  • Thus far, the tape trades well considering the carnage in the Freddie Macs (FRE:NYSE) of the world.

  • Don Henley is fantastic.

  • I'm not seeing much "flow wise" today.

  • I have a hard time believing that Sammy Sosa picked the ONE bat with cork in it. Puh-leeze!

position in spx

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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